Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.020%

Price spread now: Hyperliquid against BloFin−0.056%47s7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.470% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 3 days (all we have)−0.118%−$12 · spread now −0.056%, 7d avg −0.088%

Together, before fees−0.222%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.033% dearer against BloFin than usual: you sell high and buy low (spread −0.056% now, against its 7-day average of −0.088%): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.104% in total) that is about 2.2 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.104% in total (about -5.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin WLFI-USDT	0.05740	0.0340	pay 0.0170% / 4h	22m 17s	$4.5M	$74K	75x
Short	Hyperliquid WLFI	0.05737	0.0100	get 0.0013% / 1h	22m 17s	$10.5M	$1.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee HyperliquidbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$50.4
Price spread: −0.056% → −0.088%: $3.27
Slippage, 4 orders: −$26
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$94.13
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Hyperliquid: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 6 min ago	0.87 bp	20.4 bp −$20	40.2 bp −$402	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.61 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit

WLFI on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WLFIUSD	−0.0435%	1h	0.05736	−0.074%	$73K	$57K	20x	as long as short
Aster WLFIUSDT	−0.0080%	4h	0.05733	−0.116%	$1.6M	$584K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05738	−0.032%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.318%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05741	+0.017%	$521	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05739	−0.016%	$314	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.418%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0074%	8h	0.05736	−0.063%	$2K	$108	5x	as long as short
Lighter WLFI	+0.0096%	1h	0.05730	−0.174%	$964K	$391K	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05733	−0.113%	$79K	$26K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFIshort	+0.0100%	1h	0.05737	−0.056%	$10.5M	$1.3M	5x
Pacifica WLFI	+0.0100%	1h	0.05734	−0.111%	$246K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05740	−0.007%	$137.4M	$39.9M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05733	−0.122%	$20.9M	$17.5M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05736	−0.070%	$7.5M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05740	−0.002%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05736	−0.070%	$3.5M	$2.9M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05733	−0.122%	$14.8M	$21.3M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05737	−0.052%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05734	−0.105%	$8.0M	$3.2M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05730	−0.174%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05736	−0.070%	$239K	$29K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05728	−0.212%	$444K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05736	−0.078%	$274K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05720	−0.348%	$33K	$42K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05740	0.000%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05736	−0.070%	$117	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05733	−0.115%	$133K	$490K	10x	as long as short
01 Exchange WLFIUSD	+0.0112%	1h	0.05740	0.000%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05736	−0.073%	$3K	—	100x	as long as short
BloFin WLFI-USDTlong	+0.0340%	4h	0.05740	long leg	$4.5M	$74K	75x
Coinbase International WLFI-PERP-INTX	+0.0368%	1h	0.05737	−0.052%	$32K	$16K	50x	as long as short